Robinson Capital Management, LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Robinson Capital Management, LLC reported 90 stock positions worth $137.9 million. Its top holding was Invesco Trust for Investmen (VGM) at 8.6% of the portfolio, followed by BlackRock Municipal Inc. TRST (BFK, 8.1%) and Invesco Municipal Opport (VMO, 7.8%). Compared with Q2 2025, it opened 12 new positions, sold out of 32, added to 1 and reduced 32. The biggest buy was Franklin Muncipl Opps Tst-Ui (PMO, shares +81%) and the biggest sale an exit from Nuveen Amt-FR Muni CRDT (NVG).

Most Recent 13F
Q2 2026
Location
GROSSE POINTE FARMS, MI
CIK
0001599795
Portfolio Value
$137.9M (Q3 2025)
SEC Filing
0001213900-25-110475 ↗ filed Nov 14, 2025

Holdings Value

0$100.0M$200.0M$300.0M Q1 2024: $277.4M Q1 2024 Q2 2024: $277.2M Q2 2024 Q3 2024: $290.4M Q3 2024 Q4 2024: $247.7M Q4 2024 Q1 2025: $246.0M Q1 2025 Q2 2025: $237.6M Q2 2025 Q3 2025: $137.9M $137.9M Q3 2025 Q4 2025: $236.0M Q4 2025 Q1 2026: $220.5M Q1 2026 Q2 2026: $223.4M Q2 2026

Holdings 90 stocks · $137.9M
VGM Invesco Trust for Investmen 8.57% 1,166,946 $11.8M Reduce -1.9%
BFK BlackRock Municipal Inc. TRST 8.14% 1,117,178 $11.2M Reduce -3.6%
VMO Invesco Municipal Opport 7.77% 1,108,140 $10.7M Reduce -35.8%
BLE BlackRock Muni Inc. TR II 5.45% 718,796 $7.5M Reduce -30.0%
MIY BlackRock Muniyield Mi QLTY 4.50% 549,411 $6.2M Reduce -15.3%
VKQ Invesco Municipal Trust 4.43% 632,280 $6.1M Reduce -44.8%
MUJ BlackRock Munihold NJ QLTY 3.60% 427,670 $5.0M No change
IQI Invesco Quality Muni Inc. TR 3.53% 493,877 $4.9M Reduce -33.3%
XNXJX Nuveen NJ QLTY Muni Inc. 3.40% 377,239 $4.7M Reduce -16.2%
MMU Western Asset Managed Munici 3.06% 408,162 $4.2M No change
VKI Invesco Adv Muni Inc. TR II 3.00% 471,934 $4.1M Reduce -59.3%
XMVTX BlackRock Munivest Fund II 2.95% 380,756 $4.1M Reduce -32.4%
MYI BlackRock Muniyield QLTY III 2.55% 316,793 $3.5M Reduce -37.2%
BYM BlackRock Muni Inc. QLTY 2.47% 310,598 $3.4M Reduce -23.7%
IIM Invesco Value Municipal Inco 2.44% 267,977 $3.4M Reduce -45.3%
XMQTX BlackRock Muniyield QLTY II 2.34% 322,046 $3.2M Reduce -44.6%
VPV Invesco Pa Val Muni Inc. 2.16% 288,378 $3.0M Reduce -29.3%
MUC BlackRock Munihold Ca QLTY 2.00% 254,034 $2.8M Reduce -66.5%
RFMZ Rivernorth Flex Muni II 1.60% 169,377 $2.2M Reduce -39.1%
XMVFX BlackRock Munivest Fund 1.50% 300,537 $2.1M Reduce -45.7%
MUA BlackRock Muniassets Fund 1.49% 182,634 $2.1M Reduce -5.5%
XRMMX Rvrnrth MGD Dur Muni Inc. filed as RIVERNORTH MANAGED DUR MUN I 1.48% 144,312 $2.0M Reduce -66.0%
NAD Nuveen Quality Municipal Inc. 1.38% 162,673 $1.9M Reduce -71.8%
PMO Franklin Muncipl Opps Tst-Ui 1.20% 160,455 $1.7M Add +81.4%
SBI Western Asset Intermediate 1.12% 194,504 $1.5M No change
XBKNX BlackRock Invest QLTY Muni 0.93% 113,545 $1.3M Reduce -54.9%
MHD BlackRock Muniholdings Fund 0.88% 103,765 $1.2M Reduce -66.6%
RFM Rivernorth Flexible Muni 0.86% 82,194 $1.2M Reduce -46.5%
NRK Nuveen NY Amt-FR Muni Inc. 0.77% 103,541 $1.1M Reduce -77.1%
RMI Rivernorth Opport Muni Inc. 0.69% 64,881 $949K Reduce -60.3%
NBH Neuberger Municipal Fund Inc. 0.66% 87,533 $903K Reduce -19.5%
NUV Nuveen Municipal Value 0.56% 85,384 $767K Reduce -48.4%
ERH Allspring Utilities and High 0.53% 55,117 $733K No change
XNQPX Nuveen Pa QLTY Muni Inc. 0.50% 57,274 $687K Reduce -76.9%
PFD Flaherty & Crumrin Pre&inc F 0.48% 55,008 $661K No change
KIO KKR Income Opportunities 0.48% 52,089 $656K No change
HIX Western Asset High Inc. II 0.47% 147,625 $642K No change
EHI Western Asset Global High Inc. 0.46% 95,930 $633K No change
DMO Western Asset Mort Def Opp 0.46% 53,687 $629K No change
RA Brookfield Real Assets Incom 0.45% 46,602 $623K No change
WIW Western Asst Infl-LNK Opp 0.44% 68,740 $611K No change
MFM Aberdeen Municipal Income 0.40% 101,488 $547K New
BIT BlackRock Multi-Sector Inc. 0.38% 39,459 $528K New
VVR Invesco Senior Income Trust 0.37% 148,027 $511K New
DLY Doubleline Yield Opport 0.37% 33,479 $505K New
JFR Nuveen Floating Rate Income 0.36% 60,480 $495K No change
NCZ Virtus Convertible & Income 0.35% 35,467 $485K No change
PGZ Principal Real Estate Income 0.35% 46,088 $482K No change
NCV Virtus Convertible & Income 0.34% 31,336 $470K No change
MYN BlackRock Muniyield NY QLTY 0.32% 45,013 $447K Reduce -90.3%
HEQ John Hancock Divers Inc. Fund 0.23% 30,308 $323K No change
DMAAU Drugs Made in America Acquis 0.23% 30,000 $314K No change
XMYDX BlackRock Muniyield Fund 0.20% 25,485 $269K Reduce -89.8%
XWIAX Western Asset Infl-Link Sec 0.19% 31,111 $262K New
XEMDX Western Asset Emrg MRKT DBT 0.19% 24,764 $256K New
GPAT GP-Act III Acquisition-A 0.17% 22,250 $236K No change
IPEX Inflection Point Acquisition filed as MAYWOOD ACQUISITION CORP 0.17% 22,451 $229K No change
RFAI RF Acquisition Corp. II 0.16% 20,250 $216K No change
CHPG Championsgate Acquisitio-A 0.15% 20,305 $204K New
CCIX Churchill Capital Corp. Ix 0.14% 18,250 $191K No change
CUBWU Lionheart Holdings 0.14% 18,000 $191K No change
RANG Range Capital Acquisition Co. 0.14% 18,250 $188K No change
CHARU Charlton Aria Acquisition Co. 0.13% 15,250 $181K No change
ALF Centurion Acquisition Corp. 0.12% 15,250 $161K No change
LPAA Launch One Acquisition Corp. 0.12% 15,250 $160K No change
SIMA Sim Acquisition Corp. I-A 0.12% 15,250 $160K No change
LPBBU Launch Two Acquisition Corp. 0.12% 15,250 $160K No change
VACH Voyager Acquisition Corp. 0.12% 15,250 $160K No change
DYNC Dynamix Corp. 0.12% 15,250 $159K No change
MRLN Merlin Inc. filed as BLEICHROEDER ACQUISITION COR 0.11% 15,250 $158K No change
FTW Eqv Ventures Acquisition C-A 0.11% 15,250 $158K No change
NTWO Newbury Street II Ac Class A 0.11% 15,250 $158K No change
FACT Fact II Acquisition Corp. 0.11% 15,250 $157K No change
RAC Rithm Acquisition Corp. Class A 0.11% 15,250 $156K New
KFII K&F Growth Acquisition Cor-A 0.11% 15,250 $156K New
NOEM CO2 Energy Transition Corp. 0.11% 15,250 $155K No change
LCCC Lakeshore Acquisition III Co. 0.11% 15,000 $151K New
CHAR Charlton Aria Acquisiti Class A 0.11% 14,466 $150K No change
MUE BlackRock Munihold QLT FD II 0.10% 13,264 $133K Reduce -96.4%
PDT John Hancock Prem DVD FND 0.10% 10,000 $133K New
GIGGU GIGCAPITAL7 Inc. 0.10% 12,000 $132K No change
TONT Graf Global Corp. Class A 0.09% 12,250 $129K No change
POLE Andretti Acquisition Corp. Class A 0.09% 12,250 $128K No change
CAPN Cayson Acquisition Corp. 0.09% 12,250 $128K No change
ALDFU Aldel Financial II Inc. 0.09% 12,000 $127K No change
HVIIU Hennessy Capital Investment 0.09% 12,000 $125K No change
NTWOU Newbury Street II Acquisitio 0.09% 12,000 $124K No change
COLA Columbus Acquisition Corp. 0.09% 12,000 $123K No change
LEGT Legato Merger Corp. III 0.09% 11,347 $122K No change
MCGAU Yorkville Acquisition Corp. 0.08% 10,000 $112K New

Options reported separately and not counted above: PZA calls ($12.7M), MUB calls ($11.7M), VTEB calls ($11.5M), HYD calls ($6.3M), TFI calls ($6.2M), REM calls ($644K), VT calls ($482K).

Other holdings (2): bonds, preferreds, convertibles and warrants · $1.3M (not counted above)
SecurityClassShares / PrincipalValueChange
RMMZ Rvrnrth MGD Dur Muni Inc. II COM · principal 84,981$1.3MAdd +32.3%
RFAIR RF Acquisition Corp. II RIGHT 05/01/2026 · principal 20,000$2KNo change

Total filed on the 13F, all lines: $139.1M.

Portfolio Sells Q2 2025 → Q3 2025
NVG Nuveen Amt-FR Muni CRDT Sold out 0.00% −2.21
MYN BlackRock Muniyield NY QLTY Reduce -90.3% 0.32% −1.53
MUE BlackRock Munihold QLT FD II Reduce -96.4% 0.10% −1.38
NAD Nuveen Quality Municipal Inc. Reduce -71.8% 1.38% −1.36
MUC BlackRock Munihold Ca QLTY Reduce -66.5% 2.00% −1.31
VTN Invesco TR for Invest GRD NY Sold out 0.00% −1.20
NRK Nuveen NY Amt-FR Muni Inc. Reduce -77.1% 0.77% −1.12
VKI Invesco Adv Muni Inc. TR II Reduce -59.3% 3.00% −1.09
XNEAX Nuveen Amt-FR QLTY Muni Inc. Sold out 0.00% −1.08
NZF Nuveen Municipal Credit Inc. Sold out 0.00% −1.02
MQY BlackRock Muniyield Quality Sold out 0.00% −0.94
XRMMX Rvrnrth MGD Dur Muni Inc. Reduce -66.0% 1.48% −0.91
XBFZX BlackRock Ca Muni Inc. TR Sold out 0.00% −0.89
XMYDX BlackRock Muniyield Fund Reduce -89.8% 0.20% −0.86
NMCO Nuveen Municipal Credit Opp Sold out 0.00% −0.84
XPCQX PIMCO California Muni Inc. FD Sold out 0.00% −0.68
XNQPX Nuveen Pa QLTY Muni Inc. Reduce -76.9% 0.50% −0.67
MHD BlackRock Muniholdings Fund Reduce -66.6% 0.88% −0.58
NAC Nuveen Ca QLTY Muni Inc. Sold out 0.00% −0.58
PML PIMCO Municipal Income FD II Sold out 0.00% −0.50
MHN BlackRock Muniholding NY QLT Sold out 0.00% −0.50
EIM Eaton Vance Municipal Bond Sold out 0.00% −0.49
NDMO Nuveen Dynamic Municipal Opp Sold out 0.00% −0.39
XPMQX PIMCO Muni Income Fund III Sold out 0.00% −0.34
XPMFX PIMCO Municipal Income Fund Sold out 0.00% −0.33
RMI Rivernorth Opport Muni Inc. Reduce -60.3% 0.69% −0.29
XPCKX PIMCO California Municipa II Sold out 0.00% −0.28
XJQCX Nuveen Credit Strategies Inc. Sold out 0.00% −0.27
WDI Western Asset Divers Inc. Sold out 0.00% −0.27
REM iShares Mortgage Real Estate Sold out 0.00% −0.26
JLS Nuveen Mortgage & Income Sold out 0.00% −0.25
XBNYX BlackRock New York Muni Inc. Sold out 0.00% −0.23
XBKNX BlackRock Invest QLTY Muni Reduce -54.9% 0.93% −0.22
PNI PIMCO NY Muni Inc. II FND Sold out 0.00% −0.22
VT Vanguard Tot World STK ETF Sold out 0.00% −0.19
XBTAX BlackRock LNG-TRM Muni Adv Sold out 0.00% −0.15
VCIC Vine Hill Capital Class A Sold out 0.00% −0.11
XFFCX Flaherty & Crumrine Pref Inc. Sold out 0.00% −0.10
UCFI CN Healthy Food Tech Group C Sold out 0.00% −0.08
GSRT GSR III Acquisition Corp. Sold out 0.00% −0.07
JVSA Jvspac Acquisition Corp. Class A Sold out 0.00% −0.07
DMYY DMY Squared Technology GR-A Sold out 0.00% −0.07
CCIR Cohen Circle Acquisitio Class A Sold out 0.00% −0.06
IBAC Ib Acquisition Corp. Sold out 0.00% −0.05
NUV Nuveen Municipal Value Reduce -48.4% 0.56% −0.05
RFM Rivernorth Flexible Muni Reduce -46.5% 0.86% −0.04
XMVFX BlackRock Munivest Fund Reduce -45.7% 1.50% −0.04
XMQTX BlackRock Muniyield QLTY II Reduce -44.6% 2.34% −0.02
VKQ Invesco Municipal Trust Reduce -44.8% 4.43% +0.02
IIM Invesco Value Municipal Inco Reduce -45.3% 2.44% +0.04

Portfolio Buys Q2 2025 → Q3 2025
PMO Franklin Muncipl Opps Tst-Ui Add +81.4% 1.20% +0.83
MFM Aberdeen Municipal Income New 0.40% +0.40
BIT BlackRock Multi-Sector Inc. New 0.38% +0.38
VVR Invesco Senior Income Trust New 0.37% +0.37
DLY Doubleline Yield Opport New 0.37% +0.37
XWIAX Western Asset Infl-Link Sec New 0.19% +0.19
XEMDX Western Asset Emrg MRKT DBT New 0.19% +0.19
CHPG Championsgate Acquisitio-A New 0.15% +0.15
RAC Rithm Acquisition Corp. Class A New 0.11% +0.11
KFII K&F Growth Acquisition Cor-A New 0.11% +0.11
LCCC Lakeshore Acquisition III Co. New 0.11% +0.11
PDT John Hancock Prem DVD FND New 0.10% +0.10
MCGAU Yorkville Acquisition Corp. New 0.08% +0.08

Options Activity Q2 2025 → Q3 2025
PZA Invesco National Amt-Free Mu call New 550,000 $12.7M
MUB iShares National Muni Bond E call New 109,400 $11.7M
VTEB Vanguard Tax-Exempt Bond ETF call New 230,000 $11.5M
HYD Vaneck High Yield Muni ETF call New 123,142 $6.3M
TFI SS SPDR N Ice Muni Bond ETF call New 135,464 $6.2M
REM iShares Mortgage Real Estate call New 29,420 $644K
VT Vanguard Tot World STK ETF call New 3,500 $482K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q2 2025 → Q3 2025
RMMZ Rvrnrth MGD Dur Muni Inc. II COM · principal Add +32.3% 84,981 $1.3M
JVSAR Jvspac Acquisition Corp.-RTS RIGHT 11/26/2026 · principal Sold out 15,000 $13Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 88$223.4MMHD, MQY, MYI, MUC, EIM
Q1 2026 101$220.5MMHD, MQY, MYI, MUC, EIM
Q4 2025 114$236.0MVGM, VMO, BFK, BLE, MIY
Q3 2025 90$137.9MVGM, BFK, VMO, BLE, MIY
Q2 2025 110$237.6MVMO, VGM, BFK, VKQ, BLE
Q1 2025 105$246.0MVMO, VGM, BFK, VKQ, NAD
Q4 2024 100$247.7MVMO, VGM, NAD, BFK, VKQ
Q3 2024 178$290.4MNAD, NZF, NVG, XNEAX, BFK
Q2 2024 168$277.2MNVG, NAD, NZF, XNEAX, BFK
Q1 2024 171$277.4MNZF, NVG, NAD, XNEAX, BFK